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Canada

Strabag to Build Rail Tunnel in Toronto

Strabag has had an infrastructure contract in Toronto awarded to its Canadian subsidiary. The scope of the work includes the construction of a 180 m long tunnel under Highway 401 to accommodate two tracks operated by Ontario's public transport agency Metrolinx. The full investment volume amounts to about EUR 77 million.

January 17, 2018

Andritz Receives 90 Million Euros Order for Power Plant Renewal in Canada

The listed technology group Andritz has landed a major order for the renovation of a hydroelectric power station in Canada. "The order value is over 90 million euros," said Andritz by press release. The Styrian company will therefore renew six of the eight turbine units of a power plant in the province of Saskatchewan for the Canadian electricity supplier SaskPower.

October 31, 2017

Andritz receives hydropower refurbishment contract in Canada

International technology group Andritz has received a contract from SaskPower, the leading utility company in the Canadian province of Saskatchewan, to refurbish the E.B. Campbell hydroelectric power station on the Saskatchewan River. The contract value amounts to over 90 million euros.

October 31, 2017

Executives of Austrian Companies in the US and Canada Met in Chicago

For the second time, the Annual Conference for Executives of Austrian Subsidiaries returned to Chicago. A group of renowned financial, legal, economic experts and consultants presented an outlook on the business environment as well as forecasts for the US and Canadian economies to an audience of some 100 top-level Austrian executives and important decision makers from a variety of industries.

October 8, 2015

Magna Steyr Aimes for full Capacity Utilisation at Graz Plant

The car manufacturers Jaguar Land Rover are moving part of their production from England to Austria. With new orders from Jaguar Land Rover, BMW and Daimler, the medium-term vehicle production at the Magna plant in Graz is set to return to levels in excess of 200,000 per year.

September 11, 2015

Update: Enquiry into TTIP and CETA Agreements

Details about the negotiation progress at Austria’s National Assembly have meanwhile been released. The Transatlantic Agreement CETA with Canada and the TTIP agreement with the USA have been cause for disagreements. The assembly has adopted a motion for resolution of the Social Democratic Party (SPÖ) and Austrian People’s Party (ÖVP) concerning the transatlantic economic agreements with Canada (CETA) and the USA (TTIP). The motion calls for transparency of negotiations and ratification of the agreements by national parliaments.

September 25, 2014

Canada's Foreign Affairs Minister John Baird Visits Austria and The Balkans

Canada's Foreign Affairs Minister John Baird today announced that he will visit Croatia, Serbia and Albania. The visit to the Balkans comes after Baird spoke about Ukraine and other global security issues at a high-level forum in Salzburg, organized by the International Peace Institute and the Salzburg Global Seminar.

August 27, 2014

Cost of Living Rankings: CEE Capitals Cheaper, Vienna is 32nd Most Expensive City

The Mercer's 2014 Cost of Living Rankings have been published and cover 211 cities across five continents. While Western European cities have all risen in the rankings mainly due to the strengthening of the Euro against the US dollar, most cities in Central and Eastern Europe (CEE), however have fallen in the ranking as a result of local currencies depreciating against the US dollar. Bratislava (#84), Prague (#92), Kiev (#98), Ljubljana (#116), Zagreb (#120), Budapest (#135), Warsaw (#142), Belgrade (#184).

July 25, 2014

Strabag to Build Outfall Tunnel in Canada

Publicly-listed construction group Strabag has secured a new contract in Canada: In its winning tender, the company agreed to build the Mid-Halton Outfall Tunnel for CAD 79 million (approx. EUR 54 million). The project centres on the excavation of two 60 m deep shafts and a 6.3 km rock-bored tunnel that is designed to carry treated effluent water from the water treatment plant in Oakville into Lake Ontario.

July 17, 2014

Sanction Imposed on Expobank

Russian-Latvian Expobank was added to the Canada’s black list.

May 9, 2014

Vienna: City with Highest Quality in Life

Just like last year Vienna is on top of the list of the major cities with the highest life quality. Baghdad ranks last in the survey carried out by Mercer.

February 19, 2014

EU: Current Account with Russia Deep in the Red

EU27 current account surplus came at € 29.1 bn in the first quarter of 2013.

July 18, 2013

Poland: Dispute Over Shale Gas Law

Polish Finance Minister Jacek Rostowski has criticized the Environment Ministry for the planned national participation in the production of shale gas.

May 24, 2013

Three Major Energy Companies to Withdraw from Poland

After ExxonMobil two other huge energy enterprises left Poland after unsucessfully drilling for shale gas.

May 16, 2013

Magna Negates Downsizing

The Canadian-Austrian automotive component supplier Magna has rejects the alleged cut in workstaff in its plant in Graz.

May 6, 2013

Magna: Workstaff in Europe to be Reduced

According to CEO Walker the factory in Graz needs to become more efficient.

May 6, 2013

Voestalpine to Announce Decision on Expansion Into North America

The Austrian steel group plans a major investment in North America. According to voestalpine´s CEO Wolfgang Eder, the decision will be announced in February.

February 9, 2013

Voestalpine Acquires Canadian Sturdell Industries

The Vienna-listed voestalpine Group continues to further expand its market position in North America by undertaking an acquisition in its special steel segment.

December 7, 2012

„Developing Our Traditionally Good Cooperation with Canada Further“

The Austrian State Secretary Waldner meets his Canadian counterpart Diane Ablonczy.

July 3, 2012

Austrian Automotive Industry in NAFTA Markets

Austrian companies from the automotive sector present themsevels in Detroit on October 25th.

July 2, 2012

Austria Connect Canada 2012

2nd Austria Connect Canada 2012 Conference: Intensive exchange of experiences and views in Toronto on Research and Development.

June 28, 2012

Century Casinos Closes $ 27m Credit Agreement

The Vienna-listed casino operator secured a $ 27m loan and intends to refund mortage debt.

May 30, 2012

Decreasing Production at Magna Austria

The Canadian automotive component supplier records rising revenues and profits. The Austrian subsidiary registers a cut of 10% in production.

May 11, 2012

Austrian Exports to Canada up by 4.5% in 2011

Bilateral trade between Austria and Canada reaches € 1.13bn. Canadian Exports to Austria were down by 1.9%.

May 7, 2012

Canadian Valeant Buys Assets of Gerot Lannach

The Austrian drugmaker Gerot Lannach sells its acetylsalicylic acid business in Russia. The sale price amounts to $ 185m.

March 13, 2012

Canada as Growth Market for Austria´s Environmental Technologic Industry

This week, the Canadian environmental trade fair “Globe 2012” will be held in Vancouver. For Austrian environmental technology suppliers, Canada may be a promising market.

March 12, 2012

Automotive Industry Outlook in NAFTA Markets

In October, an automotive mission to Mexico and Detroit will be held by the Austrian Trade Commissions Mexico, Toronto and Chicago.

March 12, 2012

Magna: Production on the Rise

The Canadian automobile supplier company increased its sales by one quarter. In Austria, car production was up by 51%.

February 25, 2012

Pecik is Said to Enter AMAG

The Austrian investor, who holds a 20% stake in Telekom Austria, seems to be interested in the Austrian aluminum producer AMAG

February 23, 2012

AMAG to Become New Owners?

About one third of Austrian aluminum producer´s shares are for sale. Raiffeisen and B&C are potential buyers.

February 4, 2012

Austrian Mercedes Production Endangered to Shift to Hungary

Construction of the SUV Mercedes G-class could switch from the Magna factory in Graz to Hungary.

January 24, 2012

Styrian Mining Company Causes Problems for Austrian Banks

The Austrian mining company Decometal has debts reaching € 250m. Now, the company will be restructured. Loans must be extended.

December 28, 2011

Magna Powertrain Expands in Styria

The Canadian automotive supplier again invests in the Austrian plan Lannach. Investments of € 30m are planned.

December 6, 2011

Vienna Has the Best Living Standard

The Austrian capital defended its position as the city with the highest standard of living. It is followed by Zurich and Auckland.

November 29, 2011

Bombardier Considers to Leave Vienna

The Canadian company is threatened to close its factory in Vienna, unless the city government orders new subway trains.

November 14, 2011

AMAG Builds New Plant in Canada

The Austrian aluminum manufacturer participates in a CAD 1.5bn contract. AMAG´s share is 20%. The project brings a new capacity of 355,000 tons.

October 31, 2011

Austrian IT Service Provider Expands to Canada

The IT-service company Navax has ambitious growth plans. Expansion should not only take place in Austria, but also in Canada, Switzerland and Germany.

October 31, 2011

AMAG to Expand Capacity of Canadian Smelter

The Austrian manufacturer of aluminum products is currently negotiating the project with four partners.

September 16, 2011

Strabag Bores New Tunnel in Canada

The Austrian construction group won a € 200m contract for a wastewater tunnel in the Greater Toronto Area. It is a follow-up order after completion of tunneling below Niagara Falls.

August 29, 2011

Frank Stronach to Apply for Casino Licenses

The Austro-Canadian founder of Magna and the German Gauselmann Group establish a company with the goal of entering the Austrian gambling market.

August 26, 2011

Strong Plus in Sales for Magna

The Canadian component supplier increased sales by 29% to $ 14.5bn. In Austria, the company employs approximately 11,000 people.

August 5, 2011

€ 110m Project for Andritz

The Austrian technology group Andritz will supply Francis turbines and generators for the Mica hydropower plant in Canada.

March 29, 2011

AMAG: € 170m Special Dividend before IPO

The owner of the Austrian metal company will sell 60% to 80% of the shares. Moreover, a capital increase is planned.

March 15, 2011

Magna Pushes its Presence in Emerging Markets

The Austrian-Canadian automotive supplier intends to expand its international presence in the BRIC countries.

February 12, 2011

Kapsch TrafficCom Names new CEO for its North American Operations

The Austrian Kapsch TrafficCom AG names Christopher F. Murray President & CEO of Kapsch TrafficCom IVHS effective February 1.

February 2, 2011

Magna Expands Styrian Plants

The automotive supplier invests around € 30m for capacity expansion of in two Austrian locations to accept new orders.

January 22, 2011

"Conversations about the Future" between Austrian and Canadian IT companies

The Austrian IT industry, motivated by Canadian success models, intends to strengthen its role in the domestic economy significantly.

January 22, 2011

Bright Outlook For Magna

The Canadian/Austrian automotive component supplier today announced its financial outlook and expects a significant increase in sales as well as profits.

January 14, 2011

Stronach Sells Shares to Magna

The founder and long-time Chairman of the board of the Austria-Canadian Magna Group, Frank Stronach, only holds 5.14% now.

December 30, 2010

Change in Magna´s Management

The Austrian-Canadian component supplier announces a change in its Board of Directors. Belinda Stronach leaves.

December 22, 2010